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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income $ 312,000,000 $ 268,000,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,000,000 30,000,000
Deferred income taxes 18,000,000 16,000,000
Premium and discount amortization on available-for-sale securities and loss on other investments (1,000,000) 8,000,000
Provisions for credit losses and legal and regulatory proceedings 16,000,000 1,000,000
Share-based compensation expense 43,000,000 43,000,000
Unrealized gain on company-owned life insurance policies, net of expenses (83,000,000) (35,000,000)
Other 22,000,000 9,000,000
Net change in:    
Assets segregated pursuant to regulations excluding cash and cash equivalents (2,749,000,000) 0
Collateralized agreements, net of collateralized financings (62,000,000) 21,000,000
Loans provided to financial advisors, net of repayments 5,000,000 (12,000,000)
Brokerage client receivables and other accounts receivable, net 254,000,000 188,000,000
Trading instruments, net 22,000,000 4,000,000
Derivative instruments, net (9,000,000) 52,000,000
Other assets (530,000,000) (81,000,000)
Brokerage client payables and other accounts payable 4,953,000,000 465,000,000
Accrued compensation, commissions and benefits (253,000,000) (340,000,000)
Purchases and originations of loans held for sale, net of proceeds from sales of securitizations and loans held for sale (86,000,000) (91,000,000)
Net cash provided by operating activities 1,904,000,000 546,000,000
Cash flows from investing activities:    
Additions to property and equipment (25,000,000) (36,000,000)
Increase in bank loans, net (704,000,000) (365,000,000)
Proceeds from sales of loans held for investment 16,000,000 25,000,000
Purchases of available-for-sale securities (1,243,000,000) (314,000,000)
Available-for-sale securities maturations, repayments and redemptions 544,000,000 206,000,000
Proceeds from sales of available-for-sale securities 519,000,000 0
Business acquisitions, net of cash acquired (218,000,000) 0
Other investing activities, net (12,000,000) (18,000,000)
Net cash used in investing activities (1,123,000,000) (502,000,000)
Cash flows from financing activities:    
Proceeds from short-term borrowings, net 0 6,000,000
Exercise of stock options and employee stock purchases 18,000,000 25,000,000
Increase in bank deposits 989,000,000 694,000,000
Purchases of treasury stock (18,000,000) (19,000,000)
Dividends on common stock (55,000,000) (51,000,000)
Net cash provided by financing activities 908,000,000 654,000,000
Currency adjustment:    
Effect of exchange rate changes on cash 73,000,000 21,000,000
Net increase in cash and cash equivalents, including those segregated pursuant to regulations 1,762,000,000 719,000,000
Cash and cash equivalents, including those segregated pursuant to regulations at beginning of year 9,634,000,000 5,971,000,000
Cash and cash equivalents, including those segregated pursuant to regulations at end of period 11,396,000,000 6,690,000,000
Cash and cash equivalents 5,377,000,000 4,109,000,000
Cash and cash equivalents segregated pursuant to regulations 6,019,000,000 2,581,000,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 35,000,000 39,000,000
Cash paid for income taxes, net 67,000,000 9,000,000
Cash outflows for lease liabilities 27,000,000 23,000,000
Non-cash right-of-use (“ROU”) assets recorded for new and modified leases 50,000,000 12,000,000
FHLB advances    
Cash flows from financing activities:    
Proceeds from Federal Home Loan Bank advances 0 850,000,000
Repayments of Federal Home Loan Bank advances and other borrowed funds $ (26,000,000) $ (851,000,000)